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KOIN KLEENLAUNDRY
166 S Atlantic Ave, Ormond Beach, Fl 32176
FOR SALE166 S Atlantic Ave,Ormond Beach, Fl 32176
OFFERING MEMORANDUM
BEAU WARRENRealty Pros Commercial☎ 386.589.5754✉ Beau@RealtyProsCRE.com
900 W Granada Blvd. Ormond Beach, Fl 32174
900 W Granada Blvd. Ormond Beach, Fl 32174
TABLE OF CONTENTS
Executive Summary
Investment Highlights
Property Overview
Site Plan
Property Photos
Zoning
Volusia County Property Card
Locator map
Demographics
Traffic Counts
Contract Information
Confidentiality Statement
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900 W Granada Blvd. Ormond Beach, Fl 32174
EXECUTIVE SUMMARY
THE PROPERTY
Koin Kleen Laundromat166 S Atlantic AveOrmond Beach, Fl 32176
PROPERTY SPECIFICATIONS
Property Type:Building Size:Land Size:Year Built:Construction:Zoning:In Place NOI:
Laundromat1,200 FT2,917 SF1959Concrete BlockB7 Ormond Beach$21,609.72
PRICE
Sale Price:
CAP Rate:
Terms:
$249,900
8.6%
All Cash
Daytona Beach Metro Area shows great growth patterns on Florida’s east coast. The new expanded $400m Speedway renovation in 2016. ONE Daytona multi-3use retail and hotel area, Tanger Outlet Mall. New 65,000 SF office complex. 400,000 SF food distribution. 200,000 SF pharmaceutical distribution. All within the vicinity. Soon to come a 6,500 Unit “Margaritaville” housing development. Daytona is a dynamic market with much growth potential!
900 W Granada Blvd. Ormond Beach, Fl 32174
INVESTMENT HIGHLIGHTS
• Lease Term
• Gross Rent Escalations
• Gross Profit
• NET INCOME
5 YEAR NNN
3% Annually
$21,609.72
$21,609.72
LEASE YEARS MONTHLY BASE RENT ANNUAL BASE RENT
Current (2017) $1,800.81 $21,609.72
1 (2018)* $1,854.83 $22,257.96
2 (2019) $1,910.48 $22,925.76
3 (2020) $1,967.79 $23,613.48
4 (2021) $2,026.83 $24,321.96
5 (2022) $2,087.63 $25,051.56
Rent beginning the 6th year will be tied to the CPI Index but will be not less than 3% over rents paid during the fifth year or $1,854.83 per month nor greater than 10% over rents paid during the fifth year or $1,980.89 per month. For each year during the remaining four years of the renewal period the increases will be fixed at 3% each year.
900 W Granada Blvd. Ormond Beach, Fl 32174
PROPERTY OVERVIEW
Outstanding investment opportunity in Ormond Beach, Fl. A new 5 year
NNN lease to be signed with escalations leaving little landlord obligations.
This is the only coin-op laundry facility in the area driving demand and
ensuring sustainability.
900 W Granada Blvd. Ormond Beach, Fl 32174
PROPERTY OVERVIEW
ACREAGE:
BUILDING SIZE:
YEAR BUILT:
CLEAR HEIGHT:
SPRINKLERS:
ELECTRICAL:
LIGHTING:
CONSTRUCTION:
ZONING:
ROOF:
FENCING:
TAX ID(S):
2,917 SF
1,200 FT
1956
8 FT
N/A
Various
Concrete Block/Stucco/
B-7
Flat
N/A
4214-17-01-0021
900 W Granada Blvd. Ormond Beach, Fl 32174
SITE PLAN
900 W Granada Blvd. Ormond Beach, Fl 32174
PROPERTY PHOTOS
900 W Granada Blvd. Ormond Beach, Fl 32174
ZONING – ORMOND BEACH, FL
Purpose and intent. The purpose of the B-7, Highway Tourist commercial
zoning District is to provide for a variety of tourist facilities and tourist-
related support activities in an attractive setting which will promote
pedestrian activity and reinforce positive visitor experience. This district is
designed for use within or in close proximity to other districts within which
major transient lodging development has occurred or is permitted.
B-7, Highway Tourist Commercial
900 W Granada Blvd. Ormond Beach, Fl 32174
VOLUSIA COUNTY PROPERTY APPRAISER CARD
VOLUSIA COUNTY PROPERTY APPRAISER CARD
900 W Granada Blvd. Ormond Beach, Fl 32174
LOCATOR MAP
900 W Granada Blvd. Ormond Beach, Fl 32174
DEMOGRAPHICS
900 W Granada Blvd. Ormond Beach, Fl 32174
DEMOGRAPHICS
900 W Granada Blvd. Ormond Beach, Fl 32174
DEMOGRAPHICS
900 W Granada Blvd. Ormond Beach, Fl 32174
TRAFFIC COUNT
900 W Granada Blvd. Ormond Beach, Fl 32174
CONTACT INFORMATION
1450 W Granada Blvd. Ormond Beach, Fl 32174
For more information, please contact:
Beau WarrenCommercial Real Estate AdvisorRealty Pros Commercial1450 W Granada Blvd.Ormond Beach, Fl 32174
☎ 386.589.5754✉ Beau@RealtyProsCRE.com🌐 RealtyProsCRE.com
CONFIDENTIALITY STATEMENT
1450 W Granada Blvd. Ormond Beach, Fl 32174
This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by Realty Pros Commercial or by the Seller. The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections.
This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.
Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing.
The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties.
Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.
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